Maryland casinos face February slump despite MGM's slight growth in 2025
Maryland's casinos saw a mixed performance in February 2025, with most reporting lower earnings compared to the same month last year. Total revenue across the state dropped by 2.6% to $155.2 million. Only one casino managed a slight increase in income during this period. MGM National Harbor stood out as the sole casino to record growth, with a modest 0.1% rise to $66.9 million. Live! Casino & Hotel followed as the second-highest earner, bringing in $57 million, though this marked a 3.9% decline from February 2024.
Other casinos faced steeper drops. Horseshoe Casino Baltimore's revenue fell by 5.8% to $14.1 million. Ocean Downs Casino earned $6.1 million, down 3.9%, while Hollywood Casino Perryville saw a 3.5% decrease to $7.1 million. Rocky Gap Casino Resort reported the lowest figures, with a 10.5% drop to $3.9 million. Despite the monthly dip, Maryland's fiscal year-to-date casino revenue reached $1.3 billion, up 0.9% from the previous year. The state also allocated $65.2 million from casino earnings to public programs in February, with $47.1 million directed to the Education Trust Fund. Over the past five years, Maryland's gambling revenue has grown steadily, rising from $1.6 billion in 2020 to around $2.1 billion in 2024. However, this growth remains slower than the national average, where US-wide casino revenues surged over 40% in the same period.
February's results highlight a mixed trend in Maryland's casino sector, with most venues experiencing declines. The state's year-to-date revenue still shows slight growth, and casino contributions continue to fund key programs. However, the slower pace compared to other states suggests ongoing challenges for the industry.
